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1.3¢ allegiance coal limited

It will be interesting to see if the SPP is fully subscribed?...

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CaptainFathom

294 Posts.

41

17/03/21

22:20

Post #: 51848523
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Originally posted by MIStragic: ↑

Allegiance Coal Limited (AHQ) - New Elk, fully funded for development

AHQ has raised an additional A$10m to support start-up funding for its New Elk Mine in Colorado USA. New Elk is now fully funded to commence production in Jun. Q’21 without the need for additional project debt which is currently under term sheet with Nebari Natural Resources Credit Fund 1 LP. This will see AHQ generating strong revenue and cash flow in FY22F, with potential to reach 1.5Mt (Petra 1.2Mt) of sales on an annualised basis of High-Vol ‘A’ hard coking coal, which is currently priced at US$152/t vs current FOB costs of US$81.30/t. We maintain our BUY and update our TP to A$0.39/sh (A$0.42/sh previous) following the recent capital raise.

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It will be interesting to see if the SPP is fully subscribed? Holders gained a sneaky 7.5% on the current price.

Once the shareholders vote around the 16th the share price should gain momentum towards Petra's target price.

AHQ Price at posting: 8.6¢ Sentiment: Buy Disclosure: Held
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